GBPCHF approaching support, potential bounce!
GBPCHF is approaching our first support at 1.2894 (horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracement, ascending channel support) and a strong bounce might occur above this level pushing price up to our major resistance at 1.30909 (horizontal overlap resistance, 78.6% Fibonacci retracement).
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (89) is also approaching our ascending support lien and a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (89) is also approaching our ascending support lien and a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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